(Bloomberg) — Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of layoffs in the social media giant’s history. The reductions, equal … Read more
There’s a head-spinning amount of news for markets to navigate in the week ahead, the biggest of which will be the Federal Reserve’s midweek meeting. The two largest U.S. companies — Microsoft and Apple — report Tuesday and Thursday, … Read more
Earnings season is entering full swing on Wall Street, and CNBC’s Jim Cramer said Monday that investors would be wise to take a wait-and-see approach toward shares of companies that are about to report quarterly numbers. “In … Read more
JPMorgan Chase said Thursday that second-quarter profit slumped as the bank built reserves for bad loans by $428 million and suspended share buybacks. The actions reflect Chairman and CEO Jamie Dimon’s increasingly cautious stance. “The U.S. … Read more
Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday. The consumer price index, a broad measure of … Read more
June’s big payroll jump helped clear away some of those recession clouds for a U.S. economy that nonetheless faces some stormy weather ahead. Job gains of 372,000 convinced most Wall Street economists that the idea of a … Read more
Agriculture experts are calling this season one of the most important crop years in recent history. The supply chain has barely improved, exports are expensive, and we must rely on domestically grown and raised food … Read more
The Fed is now telling us that it can avoid a recession… or engineer a “soft landing.” It’s a pretty stunning argument… and it raises questions as to whether the Fed actually believes this stuff… … Read more
Here’s How to Profit From It! The U.S. is in recession. A recession is not coming, it’s already here. I know it. You know it. Just look around you. Yes, restaurants and airports are packed… but … Read more
The Biden Administration reiterated that its $1.9 trillion 2021 American Rescue Plan awarded “resilience” to the US economy. The remarks come after the plan, and the administration’s overall spending came under harsh criticism from economists on both … Read more